The Bank of England will publish a monetary policy summary on Thursday, June 16, at 14:00 MT time (GMT+3).
What will move the market on October 4-8?
Information is not investment advice
This week is going to be interesting for traders as some high-impact events will happen! Of course, the main event is Non-farm payrolls on Friday, which is likely to set a new track for the US dollar and thus almost the entire Forex market. Besides, OPEC+ will meet on Monday, which will add volatility to the rallying oil market.
At the start of the week, the focus will be on the Australian and New Zealand dollars as their central banks will make rate statements. Reserve Banks of these countries can’t become more dovish than they are now, that’s why we don’t expect the AUD and NZD to fall after the releases. On the contrary, if the RBA or RBNZ gives an optimistic outlook or hints at soon tapering, it may push NZD/USD up to 0.6950 and AUD/USD – to 0.7300. However, the major attention will be on the USD and NFP on Friday. The USD has hit a one-year high recently and if NFP numbers beat forecasts, the USD/JPY can rocket to 112.50.
Time flies! The earnings season is about to start again! Companies will unveil their financial results for the third quarter. Among the first will be PepsiCo already on October 5 at 13:00 GMT+3. If the Q3 results are better than expected, the stock of PepsiCo will surge back to $155.00. Meanwhile, China’s assets are trying to recover after the massive sell-off. Hong Kong’s Hang Seng Index (HK 50) has reversed up from a one-year low of 24,000 to a September high of 26,000.
Oil & metals
Gold tried to recover the losses, but the long-term forecast remains bearish as the strong USD after the encouraging NFP may pull the metal lower to the support of $1700. As for oil, the previous week was great for bulls as oil skyrocketed to the 2018 highs: XBR/USD (Brent oil) to $80.00, XTI/USD (WTI oil) to $76.50. After touching the highs, oil prices pulled back, but they may reverse up again as the demand is rising. Besides, the OPEC+ meeting may impact the oil market.
The following information is not investment advice. Remember that trading is risky. Manage your funds carefully and remember that you can use Take Profit and Stop Loss orders to maximize your gains and limit your losses.
The Federal Reserve will make a statement regarding the future monetary policy on Wednesday, June 15, at 21:00 MT time (GMT+3).
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).